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SPM Payroll PDF
SPM Payroll PDF
SYSTEM
PROJECT REPPORT
PAYROLL MANAGEMENT SYSTEM
Feb. 4
INTRODUCTION :
Payroll software often requires very little input from the employer. The
employer is required to input employee wage information and hours—then
the software calculates the information and performs withholdings
automatically. Most payroll software is automatically updated whenever a
tax law changes and will remind employers when to file various tax forms.
STEP7:ALLOCATE RESOURCES
Step0:select project
Data storing is easier. Paper work will be reduced and the company staffs
spend more time on monitoring the progress.The system is user friendly and
easy to use. All the important data’s will be stored in the database and it
avoids any miscalculation.
The project can be used in various business places for storing all employee
salary details.
Some characteristics:
LEVEL-1
effort :
External Low Average High
user
type
External 3 4 6
input
type
External 4 5 7
output
type
External 3 4 6
inquiry
type
External 5 7 10
interface
file type
Confidential payroll data contains some of the company's most sensitive information. Is
your data safe? Internal and external security measures should focus on systems, staff
and technology. This includes looking at data-sharing, privacy, access and training.
Business knowledge
Often there’s only a few people in your organisation that understand the ins-and-
outs of your specific payroll and its workarounds. You need to protect the
knowledge surrounding your systems’ running, configuration and maintenance.
Non-compliance
Tax compliance is a vital part of payroll, with serious consequences for errors. You need
confidence that you’re 100% accurate, every time. Has your system kept up with the many
changes to tax legislation, awards and agreements
Fraudulent activity
Companies say 13% of the fraud they experienced is through their payroll.* Are your
approval processes, workflows and duties watertight? Do you have alerts and mechanisms to
prevent leave, hours or bank details being tampered with
To keep business running you need to be able to pay employees. Testing, backup and data
recovery processes safeguard data both in the cloud and on-premise servers. Do you have
robust backup and recovery plans for disasters or system failures
Business fit
Once in place, an organisation’s payroll processes and systems tend to remain as such for
years… even after the business needs have changed. To reduce inefficiencies, evaluate your
systems and processes to see if they still stand up.
STEP7:ALLOCATE RESOURCES
non-project activities
•
1. Create a Budget
Creating a payroll budget helps you plan for future growth and avoid unwanted
surprises. Your employees’ salaries will, of course, take up a large portion of your budget.
But you should also plan ahead for expenses like taxes and benefits, and make sure you
consistently stick to your budget.
By carefully analyzing your budget, you may be able to find areas that are over- or under-
staffed, and adjust as needed. Doing so will help you avoid unnecessary labor costs.
Whether your employees are hourly or salaried, pay everyone the same way and on the same
day. Using the same pay structure and process makes things easier to manage. Once you decide
how often to pay your employees and stick to that timeline, the process will run much more
smoothly.
Paying salaried employees is, of course, easier since you don’t have to calculate the amount
they’re owed each pay period. But even if you have hourly employees, the payment process
doesn’t have to be stressful. Having an efficient and consistent system in place will keep things
in order.
Your employees will likely want to access their pay information from previous periods and
they may have questions about your payroll policy. Answering all their questions, however, can
take up a lot of time.
To simplify the process and save time, make payroll information available online and
encourage employees to check these resources.
Keep all your payroll records and documents in one centralized location. Some federal and state
laws require employers to hold on to records for a specific amount of time. Knowing where all
your data is will give you peace of mind.
When you consolidate all your information and can easily access it, you’ll never be left
scrambling at the last minute.
Manually entering time is an outdated practice. Verifying your employees’ entered hours takes up
both your managers’ and your payroll staff’s time. What’s the solution? Automate time tracking.
7. Set up Reminders
You simply can’t be forgetful when processing payroll. There are several key dates you need to
remember, and keeping track of them all can be overwhelming. For example, you need to send
payroll tax reports to the appropriate jurisdictions, send quarterly and annual income tax
withholding reports, and more. Forget to submit these reports and you’ll face costly penalties.
Setting up reminders in a payroll system or in your own calendar will ensure you remember these
important dates. It can take the pressure off your memory.
8. Outsource Payroll